Fisher & Paykel Healthcare expects growth to take off in the second half of this year with the rollout of a new product for the treatment of sleep apnoea.
The company, which makes equipment to help with breathing difficulties, is forecasting a full-year profit of between $US65 million and $US70 million ($NZ94 million) for the 2011 financial year, but only if the exchange rate remains at about 70 US cents.
Chief executive Mike Daniell says the sleep apnoea market is growing at the rate of about 10% to 15% a year and was worth $US2.2 billion ($NZ3 billion) last year.
Mr Daniell says the new product will fuel growth this year, and the company plans to roll out a series of other new products over the next 12 to 18 months.
He also says Fisher & Paykel Healthcare invested heavily over the last year in the Asian market, which currently provides about 21% of the company's revenue.
Mr Daniell says the company is hoping to grow that market.